Home planning

Down Payment Calculator

Calculate exactly how much down payment you need and your resulting loan amount. Use this Real estate tool to enter your numbers, review the result, and understand the key assumptions before making the next decision.

What you get
A focused calculator, clear explanation, common questions, and useful next tools.
Quick intro
Calculator
Result
Explanation
Common questions
Related tools

Calculator tool

How this calculator works
The result depends on the numbers you enter and the assumptions shown below.

The down payment is the upfront cash you pay toward the home purchase price. The remainder is financed through a mortgage. A 20% down payment avoids Private Mortgage Insurance (PMI), which typically costs 0.5–1.5% of the loan amount annually. Lower down payment programs (3%, 3.5% for FHA, 0% for VA) are available but come with additional costs.

Review the inputs carefully and treat the output as an estimate. For decisions involving money, taxes, health, law, or security, compare the result with trusted professional guidance when needed.

Frequently asked questions

Do I need 20% down to buy a house?

No. Conventional loans allow as little as 3% down, FHA loans require 3.5%, and VA/USDA loans offer 0% down for eligible buyers. However, down payments below 20% typically require PMI, which increases your monthly payment.

What is PMI and how much does it cost?

Private Mortgage Insurance (PMI) protects the lender if you default. It costs 0.5–1.5% of the loan amount annually (roughly $83–$250/month per $200,000 borrowed) and is required until you reach 20% equity.